TeraWulf Stock Soars 12% After Buying Kentucky Data Center Site

TeraWulf's stock price jumped more than 12% today after the company announced it bought a huge piece of land in Kentucky to build a new data center.

TeraWulf is a bitcoin mining company (a business that uses powerful computers to create new bitcoin cryptocurrency). However, like many similar companies, it's now expanding into artificial intelligence (AI) and high-performance computing (using super-powerful computers for complex tasks).

The company bought approximately 285 acres of land in Eastern Kentucky from a company called Industrial Equity Partners. This site, called the Muskie Data Campus, will support over 1 gigawatt of power capacity (enough electricity to power about 750,000 homes).

Key facts about the deal: • The land is located in EastPark Industrial Park • Kentucky Power is building a new power station to supply electricity • This will be TeraWulf's second major facility in Kentucky • The purchase price was not disclosed

TeraWulf has been shifting its business focus from just mining bitcoin to providing computing power for AI companies. In the first quarter of 2026, the company made $21 million from AI computing services compared to $13 million from bitcoin mining - the first time AI revenue exceeded crypto mining.

Why this matters: As AI becomes more popular, companies need massive data centers to run AI programs. Former bitcoin mining companies like TeraWulf already have the infrastructure and expertise to build and operate these facilities, making them attractive investments for traders betting on the AI boom.

This is an AI-generated summary. Read the original article at: https://www.theblock.co/post/402616/terawulf-stock-jumps-12-news-kentucky-data-center-site-acquisition?utm_source=rss&utm_medium=rss